Sign up now to receive our regular news briefs.

Chinese Magnate Says Backed by ‘Jewish American’ Financier in Bid to Buy New York Times

January 3, 2014 12:55 pm 6 comments
Office of The New York Times, in New York City. Photo: WikiCommons.

Office of The New York Times. Photo: Wiki Commons.

A Chinese magnate who has expressed an interest in buying The New York Times said that he is backed by a “Jewish American” financier to the tune of $600 million, Reuters reported on Friday.

Chen Guangbiao, 45, whom Reuters described as an “oddball” recycling magnate who has never acquired a company nor worked in the media industry, said that he has retained a financial services firm to assist him in the takeover bid.

Chen’s stated offer of $1 billion is far below The Times’s current market value of $2.4 billion, and according to Reuters it is highly unlikely that the Ochs-Sulzberger clan which controls the publication would sell to Chen, who is known for his publicity stunts.

Chen further described his Jewish partner, whom he said wished to remain anonymous, as someone who has worked in finance in Hong Kong and speaks fluent Chinese. The financier has previously completed two acquisition deals with U.S. media outlets, Chen said, declining to name them, though he added neither is as big as The Times, Reuters said.

Hurun’s Rich List of China’s super-wealthy estimates that Chen is worth $740 million. He is also known for his substantial philanthropic activism.

6 Comments

  • If the deal is done and the NYT is sold to Mr Chen Guangbiao, will its name remain the same or will it acquire a new name like “New China Times?”
    Results are eagerly awaited

  • aye bless israel

    How could they stoop down so low from their original purpose and dignity in Israel for the sake of a little cheapie oil money and motley academism?

    Genesis 12:3 I will bless those who bless you, and him who dishonors you I will curse, and in you all the families of the earth shall be blessed.

    am yisrael chai

  • Unless it is bought by some Arab satrapy, nothing can make the NY Times worse than it has been for many and many decades about any Jewish issue or Israel.
    After unbelievable and constant falsity I cancelled my subscription at the time of the First Intifada, when it became intolerable for any truth seeker, in spite of A.M Rosenthal and William Sapphire, who were very distant from the editorial line and the constant pseudo-news.
    The NY Times is the paper that published items about Jewish massacres of tens of thousands in Europe during the Shoah on page six without even a title, right next to shoe shopping and similar yet with big titles.
    No one can be worse than an assimilated and assimilationist former-Jewish family, always concerned about not being thought of as Jews by being “too Jewish”.

  • New York Times won the Honestreporting Dishonest Award for 2013.

    I hope the Jewish financier isn’t Soros in a bid to keep the same trend going.

  • Prof Asher J Matathias

    Were the transaction to be consummated, it will sadly end a tradition of the Ochs family in control of America’s premier newspaper, and the pride of our city, The New York Times. The proposed acquisition would be the more galling, for being acquired prospectively by an heir who stands in antithesis to American capitalism, a Chinese man who has sprung from the ostensible Communism of authoritarian China! The irony, of course, is that our economy adheres to globalism, when others continue to wrap themselves with the mantle of jingoism, abd protectionism! Care must be exercised here.

    • All too true. However, perhaps a new owner would reinstate journalistic ethical standards. The New York Times WAS the preeminent newspaper in the US. However, their naked bias against Israel on every issue, and the lacking even of a pretense of fairness, might be corrected by a less bigoted owner group.

Leave a Reply

Please note: comments may be published in the Algemeiner print edition. Comments written in all caps will be deleted.


Current day month ye@r *

More...

  • Arts and Culture Blogs Natalie Portman Says She Behaved Like ‘Average Everyday Jewish Mother’ on Set of Latest Movie

    Natalie Portman Says She Behaved Like ‘Average Everyday Jewish Mother’ on Set of Latest Movie

    Actress Natalie Portman acted like a typical “Jewish mother” on the set of her latest movie, Jane Got a Gun, the Israeli-born star told the New York Post‘s Page Six on Sunday. The 34-year-old, who also co-produced the western, said she made it her job to look out for everyone involved in the project, because the film has had to overcome “so many obstacles,” such as losing its director early on. She explained: “Actors changed. We suffered financial and legal challenges. We endured so many replacements. There were delays. […]

    Read more →
  • Israel Music Scorpions Lead Singer Sends Message to Israel Ahead of World Tour, Tel Aviv Performance (VIDEO)

    Scorpions Lead Singer Sends Message to Israel Ahead of World Tour, Tel Aviv Performance (VIDEO)

    “We’re looking very much forward to coming back to Israel this summer,” said the lead singer of the German rock band Scorpions in a video on Monday. “Make sure you don’t miss it because we rock you like a hurricane!” said a jovial Klaus Meine, quoting the band’s seminal 1984 anthem, “Rock You Like a Hurricane.” The hard rock band lands in Israel for a show at the Menorah Mivtachim Arena on July 14 as part of its 50th anniversary tour. It will be the band’s third time […]

    Read more →
  • Blogs Book Reviews The Collected Works of Primo Levi, Edited by Ann Goldstein (REVIEW)

    The Collected Works of Primo Levi, Edited by Ann Goldstein (REVIEW)

    Primo Levi and Elie Wiesel were the two most immediate and authentic literary voices who gave witness to the Holocaust. Wiesel was an extrovert and a very public figure who wrote initially in French. Levi was a modest retiring chemist who wrote in Italian. Whereas Wiesel was rooted in the Eastern European Jewish Hassidic world, Levi was the product of an assimilated, secular Italian society that saw itself as Italian first and Jewish as an accident of birth. As Levi himself said, “At Auschwitz I […]

    Read more →
  • Blogs Lifestyle Wine Brings Judea and Samaria to Tel Aviv

    Wine Brings Judea and Samaria to Tel Aviv

    JNS.org – Wine has long been considered a social lubricant, and it’s Nir Lavie’s hope that wine from his Har Bracha Winery in the Samarian hills will serve as a social lubricant between the city-goers of Tel Aviv and the Jewish communities of Judea and Samaria, two locales split geographically, and often politically, on the left and right of the country. The new flagship store of Har Bracha has recently popped its corks on 190 Ben Yehuda Street in Tel Aviv, […]

    Read more →
  • Arts and Culture Blogs Gentile Actor Zachary Levi Says He’s Denied Roles for Being ‘Too Jewish’

    Gentile Actor Zachary Levi Says He’s Denied Roles for Being ‘Too Jewish’

    Actor Zachary Levi said casting directors have denied him roles for being “too Jewish,” despite the fact that he is not a Jew, the New York Daily News‘ Confidenti@l reported on Wednesday. “I guess they were looking for more of a corn-fed, white boy look,” he said. “My family is from f****** Indiana! Come on, I’m like dying here!” The Thor star clarified that he is Welsh, and that Levi is actually his middle name, while his real last name is Pugh. He said he […]

    Read more →
  • Book Reviews Spirituality/Tradition Tracing Chabad’s History and Success (REVIEW)

    Tracing Chabad’s History and Success (REVIEW)

    The secret of Chabad’s worldwide success is revealed by veteran Chabad shliach (emissary) Rabbi David Eliezrie in his new book, The Secret of Chabad. The Chabad movement was founded by Rabbi Schnur Zalman of Liadi, Belarus, in 1775. Years later it came to the US with the arrival of Rabbi Yosef Yitzchak Schneersohn in 1940, after his escape from Nazi-occupied Warsaw. Upon his arrival in New York, a number of his co-religionists advised him that there was no place for traditional […]

    Read more →
  • Music US & Canada Rapper B.o.B’s New Song Invoking Antisemitism, Holocaust Denial Has Jewish Group ‘Deeply Troubled’

    Rapper B.o.B’s New Song Invoking Antisemitism, Holocaust Denial Has Jewish Group ‘Deeply Troubled’

    A Jewish human rights organization expressed concern on Wednesday over a new song by a popular US rapper that includes lyrics promoting antisemitic conspiracy theories and cites a Holocaust denier, The Algemeiner has learned. The Anti-Defamation League (ADL) was responding to Tuesday’s release of B.o.B’s “Flatline,” the lyrics of which include: “But before you try to curve it, do your research on David Irving; Stalin was way worse than Hitler, That’s why the POTUS gotta wear a Kippa.” Irving is a historian who has questioned […]

    Read more →
  • Business Features World-Changing Israeli Technologies Wow at Global Investor Summit

    World-Changing Israeli Technologies Wow at Global Investor Summit

    JNS.org – You’re cruising along the highway. Suddenly, your car starts to sputter, your engine grumbles, and your car comes to a screeching halt. The tow truck drags the car to a local auto mechanic. Damage: $1,000. You have no idea whether or not the mechanic is trying to do one over on you, but you will soon, thanks to a new Israeli innovation. Engie puts the car owner in the driver’s seat by providing a special malfunction reader that simply […]

    Read more →